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Takes another leg lower

  • EURUSD test next immediate resistance at 1.0569 20-day EMA, and a break above the latter would see 1.0600.
  • This is more a function of another leg lower for the USD.
  • USDCHF is now down 1.68%, and 3.47% since the 16th April.
  • Market participants will look at 0.9700 next.
  • A clear break below the latter opens to 0.9630 area.

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